Social Security alone is not enough to provide for a comfortable retirement, and many employers' retirement plans are inadequate. You need a great retirement savings tool that provides you with either a tax-deferred or tax-free way of saving for your future. While there are many different types of accounts, Traditional and Roth IRAs are the most common choices.

Traditional IRA

A traditional IRA helps you to save for your retirement, and your contributions may be tax-deductible.

• Individuals under age 70½, with qualifying income, may contribute
• Early withdrawals are subject to 10% penalty unless disabled or paying for qualified expenses
• Mandatory distributions at age 70½
• Interest grows tax-deferred until withdrawn

Roth IRA

A Roth IRA helps you save for your retirement by sheltering your earnings from income tax.

• Individuals with qualified income may contribute, regardless of age
• Contributions are non-deductible
• Early withdrawals of earnings are subject to 10% penalty unless disabled or paying for qualified expenses
• All withdrawals, including earnings, are tax-free if the account has been open at least 5 years and are used for qualified expenses
• No scheduled mandatory distributions required
• No requirement to withdraw at any certain age

To view rates on all of our IRA options, click here.

To view our disclosure, click here.